RNS Number:8982Z
Retail Stores PLC
18 June 2004
FOR IMMEDIATE RELEASE
18th June 2004
RETAIL STORES PLC:
APPOINTMENT OF NEW FINANCE DIRECTOR AND
NEW NON-EXECUTIVE DIRECTOR
Retail Stores plc ("Retail Stores"), owner of the Regent Street store Liberty,
today announces the appointment of Fraser Allan, 44, as the Company's new
Finance Director with immediate effect.
Fraser Allan succeeds Nick Mather who has been Finance Director of Liberty since
December 2001 and was pivotal in helping manage Liberty through a period of
intense change - both in terms of the business and of management - as well as
establishing new Finance, IT and Warehousing systems. His significant
contribution has helped stabilise the Company, improve business practices and
lay solid foundations for Liberty's future success. Nick has now left the
Company to pursue other business interests.
Fraser joins Retail Stores from the interior finishes brand Fired Earth where he
was Chief Executive from 1999 until 2003. At Fired Earth he successfully
developed the business over a four year period and realised shareholder value by
selling the business to AGA Foodservice Group PLC in 2001. Fraser's role will be
wide ranging and he will be involved in all areas of the business.
Retail Stores is also pleased to announce the appointment of Christian Viros as
Non-Executive Director of Retail Stores and of Liberty Plc with immediate
effect. Christian was President and Chief Executive Officer of the Swiss watch
company Tag Heuer between 1988 and 1999, during which time he increased annual
sales from #15m to #250m, before selling the business to the Louis Vuitton Moet
Hennessy Group ("LVMH") in September 1999.
Christian then became President of the LVMH watches and jewellery division and a
member of the LVMH Executive Committee until the end of 2001. In addition he
worked closely with the LVMH Board on brand development and strategy. Since then
he has been a consultant to major international brands and an investor and
adviser to new businesses.
Richard Balfour-Lynn, Chairman of Retail Stores, said: "These two appointments
are a further step in our commitment to strengthening the Board of Retail Stores
and Liberty at an exciting time in the Company's development. I would also take
the opportunity of thanking Nick for his contribution.
"I look forward to making further advances in the Liberty business with the
assistance of these two new high profile members of the Board."
Over the past five years Fraser Allan has held directorships with Resurgan Ltd
and Fired Earth Ltd. Christian Viros, while at LVMH, held directorships with
LVMH, Duty Free Shoppers, Sephora and the joint venture between De Beers and
LVMH.
Ends.
Contact:
Richard Balfour-Lynn, Chairman, Retail Stores plc. Tel: 020 706 2121
Baron Phillips, Baron Phillips Associates. Tel:020 7920 3161
This information is provided by RNS
The company news service from the London Stock Exchange
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